Noah (NYSE:NOAH) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Noah (NYSE:NOAH) from a hold rating to a buy rating in a report released on Saturday.

Several other equities analysts also recently issued reports on NOAH. Zacks Research upgraded Noah from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Weiss Ratings cut Noah from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, July 10th. Finally, JPMorgan Chase & Co. cut their target price on Noah from $12.00 to $11.50 and set a “neutral” rating on the stock in a research note on Tuesday, June 2nd. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $10.75.

Noah Stock Down 0.2%

Noah stock opened at $8.88 on Friday. Noah has a 52-week low of $8.63 and a 52-week high of $12.84. The firm has a market capitalization of $598.62 million, a price-to-earnings ratio of 8.22 and a beta of 0.80. The firm has a 50-day moving average price of $10.04 and a two-hundred day moving average price of $10.72.

Noah Increases Dividend

The business also recently announced an annual dividend, which will be paid on Thursday, August 6th. Shareholders of record on Thursday, July 9th will be paid a dividend of $1.3806 per share. This represents a yield of 778.0%. The ex-dividend date of this dividend is Thursday, July 9th. This is a positive change from Noah’s previous annual dividend of $1.16. Noah’s dividend payout ratio is 62.04%.

Institutional Trading of Noah

A number of institutional investors have recently made changes to their positions in NOAH. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Noah during the 2nd quarter valued at $14,128,000. FIL Ltd raised its stake in shares of Noah by 7.1% in the 4th quarter. FIL Ltd now owns 6,377,766 shares of the asset manager’s stock worth $64,033,000 after buying an additional 424,717 shares in the last quarter. Nuveen LLC lifted its holdings in shares of Noah by 35.0% in the fourth quarter. Nuveen LLC now owns 454,675 shares of the asset manager’s stock valued at $4,565,000 after buying an additional 117,971 shares during the period. Sei Investments Co. lifted its holdings in shares of Noah by 549.8% in the third quarter. Sei Investments Co. now owns 78,178 shares of the asset manager’s stock valued at $906,000 after buying an additional 66,146 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Noah by 132.4% in the first quarter. Renaissance Technologies LLC now owns 95,500 shares of the asset manager’s stock valued at $945,000 after buying an additional 54,400 shares during the period. 42.67% of the stock is owned by institutional investors and hedge funds.

About Noah

Noah Holdings Limited is a China-based wealth management and asset management firm specializing in tailored advisory services for high-net-worth individuals, family offices and select institutional clients. The company offers a broad range of investment solutions that draw on its deep market research and partner network to provide access to both onshore and offshore products. Noah’s business model centers on delivering structured investment products, portfolio management services and family wealth planning solutions designed to meet the evolving needs of affluent clients in China and beyond.

Noah’s main service lines include discretionary portfolio management, fund distribution, private equity and venture capital fund platforms, and alternative investment strategies such as real estate and insurance-linked products.